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REGISTERED NUMBER: 07232851 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

DFN EMBROIDERY LIMITED

DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DFN EMBROIDERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R Fisher
D Fisher
Miss N Fisher



REGISTERED OFFICE: Touchline UK
Liverpool Road
Warrington
Cheshire
WA5 1AE



REGISTERED NUMBER: 07232851 (England and Wales)



ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL



BANKERS: Royal Bank of Scotland
40 Horsemarket Street
Warrington
Cheshire
WA1 1XN

DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)

ABRIDGED BALANCE SHEET
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 424,620 422,735

CURRENT ASSETS
Stocks 507,245 396,636
Debtors 119,497 70,440
Cash at bank and in hand 12,925 52,081
639,667 519,157
CREDITORS
Amounts falling due within one year 671,715 564,593
NET CURRENT LIABILITIES (32,048 ) (45,436 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,572

377,299

CREDITORS
Amounts falling due after more than one
year

(107,240

)

(174,051

)

PROVISIONS FOR LIABILITIES (51,340 ) (45,658 )
NET ASSETS 233,992 157,590

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6 233,892 157,490
SHAREHOLDERS' FUNDS 233,992 157,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





R Fisher - Director


DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

DFN Embroidery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Continuation of the company's activities is dependant upon the continued support of its bankers. The financial statements have been prepared on a going concern basis which assumes that the support will continue.The financial statements do not reflect any adjustments which may be necessary if the company is unable to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
The directors have adopted a policy of annual impairment reviews on the all the categories of tangible fixed assets

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 569,368
Additions 49,446
At 30 June 2023 618,814
DEPRECIATION
At 1 July 2022 146,633
Charge for year 47,561
At 30 June 2023 194,194
NET BOOK VALUE
At 30 June 2023 424,620
At 30 June 2022 422,735

5. LOANS

An analysis of the maturity of loans is given below:

30/6/23 30/6/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 41,770 41,770

Amounts falling due between one and two years:
Bank loans - 1-2 years 29,365 41,770

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,167 38,531

6. RESERVES
Retained
earnings
£   

At 1 July 2022 157,490
Profit for the year 123,069
Dividends (46,667 )
At 30 June 2023 233,892

DFN EMBROIDERY LIMITED (REGISTERED NUMBER: 07232851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director, Mr Ray Fisher received an unsecured, interest-free loan from the company with no fixed repayment terms. The balance outstanding at the year end was £6,542 (2022 : £23,493).

During the year the director, Miss Nicola Fisher received an unsecured, interest-free loan from the company with no fixed repayment terms. The balance outstanding at the year end was £26,542 (2022 : loan to the company of £6,508).

During the year the director, Mr David Fisher received an unsecured, interest-free loan from the company with no fixed repayment terms. The balance outstanding at the year end was £6,542 (2022 : loan to the company of £6,508).